Well Congress has been working hard debating on how they will repeal the Form 1099 reporting requirements that were enacted last year, but the details currently are rather confusing for small business owners and landlords.
Just to give you an update on what's going on, there are two bills in the House and one in the Senate that are attempting to address the repeal of the Form 1099 reporting requirements and here is a brief overview of each:
For more details regarding the Form 1099 laws that were passed last year and how they currently affect small business owners and landlords be sure to watch the video on our website.
The Tech Accountant
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